1 00:00:01,48 --> 00:00:19,34 If your life were. 2 00:00:20,32 --> 00:00:26,27 One of the most precious things in the world is time for time is the essence of 3 00:00:26,27 --> 00:00:33,22 life units of time in danger months years are the measure of the lifespan of 4 00:00:33,22 --> 00:00:38,73 every human being. While no one can predict the lifespan of an individual child 5 00:00:39,62 --> 00:00:41,51 or even that of an elderly grandfather. 6 00:00:41,68 --> 00:00:46,01 Nevertheless the life expectancy of large groups of people can be readily 7 00:00:46,01 --> 00:00:52,92 determined by experts in the life insurance field for example insurance. 8 00:00:53,09 --> 00:00:53,93 Statistics show 9 00:00:53,93 --> 00:00:59,07 that out of ten thousand people of thirty five years of age sixty four hundred 10 00:00:59,07 --> 00:01:05,40 or about sixty four percent can be expected to reach the age of retirement using 11 00:01:05,40 --> 00:01:10,13 facts such as these life insurance companies have issued policies to more than half 12 00:01:10,13 --> 00:01:15,72 our population added up these policies amount to about forty seven hundred dollars 13 00:01:15,72 --> 00:01:22,13 for each American family financial protection is last provided to individuals 14 00:01:22,13 --> 00:01:26,56 desiring security in their later years as well as in cases of emergency 15 00:01:28,89 --> 00:01:31,07 until needed to pay these policy benefits. 16 00:01:31,30 --> 00:01:36,32 Most of the premium dollars paid by policyholders to their insurance companies are 17 00:01:36,32 --> 00:01:42,07 used to finance the expansion of industry incomers the operations of railroads 18 00:01:42,07 --> 00:01:47,31 and other transportation systems the costs of certain local state 19 00:01:47,31 --> 00:01:52,87 and national government activities the development of utilities such as electric 20 00:01:52,87 --> 00:01:54,17 power light and gas companies 21 00:01:55,30 --> 00:01:59,32 and the construction of multiple housing projects in urban areas. 22 00:02:02,68 --> 00:02:06,52 In analyzing the operations of life insurance companies which provide employment 23 00:02:06,52 --> 00:02:09,33 for more than three hundred thousand men and women. 24 00:02:10,39 --> 00:02:12,77 It is apparent that a great variety of talents 25 00:02:12,77 --> 00:02:17,44 and abilities contribute to the process of issuing a policy and keeping 26 00:02:17,44 --> 00:02:21,38 that policy in force until it is paid out to the policy holder 27 00:02:21,38 --> 00:02:27,16 or beneficiary in order to understand the functions of the life insurance home 28 00:02:27,16 --> 00:02:27,53 office 29 00:02:27,53 --> 00:02:32,77 and to study the job opportunities it provides Let's start from the moment the life 30 00:02:32,77 --> 00:02:39,20 insurance agent secure is a written application for life insurance the 31 00:02:39,20 --> 00:02:42,72 application is then mailed to the Home Office of the life insurance company 32 00:02:43,57 --> 00:02:45,64 thousands of such forms from agents 33 00:02:45,64 --> 00:02:49,12 and medical examiners throughout the country are received at the home office 34 00:02:50,44 --> 00:02:51,41 and after sorting 35 00:02:51,41 --> 00:02:57,60 and classifying are delivered to the lay underwriters the job of the lay 36 00:02:57,60 --> 00:03:01,59 underwriter is to determine whether the applicant can qualify for life insurance 37 00:03:03,40 --> 00:03:08,03 the lay underwriters responsibility is great for his decision must be fair. 38 00:03:08,03 --> 00:03:13,29 Both to the applicant and to the company the decision is reached. 39 00:03:13,33 --> 00:03:18,27 Only after careful study of the agents part of the application the medical report 40 00:03:18,27 --> 00:03:19,20 from the local doctor 41 00:03:19,20 --> 00:03:24,63 and perhaps a report from the inspection bureau relative to the financial physical 42 00:03:24,63 --> 00:03:29,46 and moral status of the applicant qualifications for this position include a 43 00:03:29,46 --> 00:03:32,25 thorough knowledge of life insurance finance 44 00:03:32,25 --> 00:03:36,15 and economics ability to understand medical reports 45 00:03:37,05 --> 00:03:38,71 and the knowledge of occupations 46 00:03:38,71 --> 00:03:44,79 and the hazards they may entail working closely with the underwriter is the medical 47 00:03:44,79 --> 00:03:50,65 department staffed with doctors the doctors function in an executive capacity 48 00:03:50,65 --> 00:03:55,47 assisting the lay underwriter in appraising applicants for insurance selecting 49 00:03:55,47 --> 00:03:59,87 and supervising the practicing physicians in the field who examine applicants. 50 00:04:00,00 --> 00:04:06,05 For life insurance definite working hours are enjoyed by the Home Office Dr at the 51 00:04:06,05 --> 00:04:10,48 same time he can contribute to medical research through his studies of the trends 52 00:04:10,48 --> 00:04:11,30 in disease 53 00:04:11,30 --> 00:04:17,95 and illness information from medical reports on policyholders is file for future 54 00:04:17,95 --> 00:04:22,15 reference file clerks in this department must be accurate 55 00:04:22,15 --> 00:04:25,77 and diligent in their work for an error in the records could cause serious 56 00:04:25,77 --> 00:04:28,75 complications in either issuing policies 57 00:04:28,75 --> 00:04:35,50 or in paying claims the cost of insurance is determined by experts who plan the 58 00:04:35,50 --> 00:04:41,79 features of all of the life insurance policies the actuaries the job of the actuary 59 00:04:41,79 --> 00:04:44,85 is one of the most important in the life insurance company. 60 00:04:45,77 --> 00:04:46,85 He is to life insurance. 61 00:04:47,21 --> 00:04:53,24 What the engineer is to bridge building the actuary determines the basic facts upon 62 00:04:53,24 --> 00:04:54,46 which the company operates. 63 00:04:55,27 --> 00:04:59,45 He is the mathematical expert who prepares statistics regarding length of life 64 00:05:00,37 --> 00:05:03,72 establishes premium rates computes policy values 65 00:05:03,72 --> 00:05:10,01 and forecast the probable results to be an actuary one should be a college 66 00:05:10,01 --> 00:05:12,96 or university graduate with a major in mathematics 67 00:05:12,96 --> 00:05:15,25 and with better than average ability. 68 00:05:16,64 --> 00:05:21,56 One should also study Law Economics Finance Accounting English composition 69 00:05:21,56 --> 00:05:25,76 and other cultural subjects to achieve professional status. 70 00:05:26,02 --> 00:05:31,13 He must pass a series of eight examinations offer jointly by the two professional 71 00:05:31,13 --> 00:05:32,72 actuarial organizations. 72 00:05:34,59 --> 00:05:39,05 It usually takes from six to nine years of part time study on the job to complete 73 00:05:39,05 --> 00:05:44,85 the series due to the actuary is comprehensive training he is qualified for higher 74 00:05:44,85 --> 00:05:46,15 administrative positions. 75 00:05:46,25 --> 00:05:49,30 Particularly if he shows ambition initiative 76 00:05:49,30 --> 00:05:54,59 and the ability to work with people his duties require frequent consultation with 77 00:05:54,59 --> 00:05:59,57 key executives such as the president and treasurer of the company the. 78 00:06:00,00 --> 00:06:04,55 Then he is in close contact with the Treasurer who plans the financial policies of 79 00:06:04,55 --> 00:06:05,02 the company 80 00:06:05,02 --> 00:06:11,63 and supervises all funds among the personnel in the Treasury Department are the 81 00:06:11,63 --> 00:06:17,07 cashiers in charge of all cash transactions incoming as well as outgoing 82 00:06:18,89 --> 00:06:21,20 then there are the controllers accountants 83 00:06:21,20 --> 00:06:23,98 and auditors who supervise the general books 84 00:06:23,98 --> 00:06:29,39 and records of the company the manual labor is greatly reduced by bookkeeping 85 00:06:29,39 --> 00:06:33,56 machines tabulating machines automatic check writers address the graphs 86 00:06:33,56 --> 00:06:40,17 and many others the Treasury Department may also be responsible for wise 87 00:06:40,17 --> 00:06:45,56 investment of company funds this function is directed by experienced financial 88 00:06:45,56 --> 00:06:49,61 advisors including mortgage experts real estate appraisers 89 00:06:49,61 --> 00:06:56,11 and securities analysts all legal problems in connection with life insurance 90 00:06:56,11 --> 00:07:00,77 company operations are usually managed by a staff of professionally qualified 91 00:07:00,77 --> 00:07:07,21 lawyers they guide the company through the various complexities of legal matters 92 00:07:08,08 --> 00:07:12,17 supervise the writing of policy contracts and advise agents 93 00:07:12,17 --> 00:07:14,05 and field representatives on issues 94 00:07:14,05 --> 00:07:16,52 that may affect the interests of policyholders 95 00:07:16,52 --> 00:07:22,99 and company alike the claims department is responsible for paying the 96 00:07:22,99 --> 00:07:25,86 beneficiary the amount due on the death of the insured. 97 00:07:27,45 --> 00:07:28,06 There are no schools 98 00:07:28,06 --> 00:07:33,89 or colleges to instruct in claims examining experience alone is the only teacher 99 00:07:35,11 --> 00:07:40,02 and as in most careers in life insurance the real training begins on the job after 100 00:07:40,02 --> 00:07:44,97 you get started with a company for this reason many who plan on life insurance 101 00:07:44,97 --> 00:07:49,24 careers can find initial openings as clerks stenographers machine operators 102 00:07:49,24 --> 00:07:50,53 or file clerks in the home office 103 00:07:51,50 --> 00:07:56,71 and work up to higher paying positions of greater responsibility special skills 104 00:07:56,71 --> 00:07:59,93 required for these jobs are typing to handle the heavy her. 105 00:08:00,00 --> 00:08:03,11 Office correspondence shorthand to take dictation 106 00:08:04,25 --> 00:08:06,10 or the ability to operate a stenotype 107 00:08:06,10 --> 00:08:10,15 or transcribing machine in order to take dictation at high speed 108 00:08:12,96 --> 00:08:14,84 mechanical devices are numerous in the home office 109 00:08:15,68 --> 00:08:19,59 and special skills are necessary to operate equipment such as keep punching 110 00:08:19,59 --> 00:08:24,09 machines photostat machines tabulators duplicating machines 111 00:08:24,09 --> 00:08:29,05 and postage metering machines young men and women just out of high school 112 00:08:29,05 --> 00:08:33,56 and without special skills are often hired as clerks if they show promise of being 113 00:08:33,56 --> 00:08:39,24 able to advance most life insurance companies make every effort to aid the 114 00:08:39,24 --> 00:08:43,83 advancement of employees educational programs are offered to home office personnel 115 00:08:45,86 --> 00:08:51,47 employees are encouraged to study for self-improvement some work for degrees which 116 00:08:51,47 --> 00:08:55,48 carry professional recognition all may acquire skills 117 00:08:55,48 --> 00:09:00,36 that will aid them to qualify for better positions with the company. 118 00:09:00,38 --> 00:09:05,44 Other benefits generally enjoyed by employees include a five day work week plan 119 00:09:05,44 --> 00:09:08,71 social and recreational activities vacations with pay 120 00:09:09,52 --> 00:09:14,54 and low cost insurance programs combining group life accident and health 121 00:09:14,54 --> 00:09:18,77 and hospitalization the job opportunities are numerous 122 00:09:19,48 --> 00:09:23,43 and there are places for unskilled beginners as well as highly trained technicians 123 00:09:23,43 --> 00:09:24,97 and professional man. 124 00:09:26,52 --> 00:09:30,23 Office working life insurance as a career offers many advantages. 125 00:09:31,29 --> 00:09:36,15 It is a growing business a business founded on a basic need in human nature for 126 00:09:36,15 --> 00:09:40,21 protection and security in life insurance. 127 00:09:41,33 --> 00:09:45,06 You are part of a service that contributes to the welfare of your country 128 00:09:45,06 --> 00:09:49,91 and your fellow citizens. You will find satisfaction and security. 129 00:09:50,24 --> 00:09:54,98 If you select life insurance as your life's work.